GQG Partners LLC Takes $363,000 Position in Stryker Co. (NYSE:SYK)

GQG Partners LLC purchased a new stake in Stryker Co. (NYSE:SYK) during the 2nd quarter, HoldingsChannel reports. The institutional investor purchased 1,398 shares of the medical technology company’s stock, valued at approximately $363,000.

Several other institutional investors have also made changes to their positions in the company. Mirova lifted its stake in Stryker by 8.1% during the 2nd quarter. Mirova now owns 16,514 shares of the medical technology company’s stock worth $4,289,000 after acquiring an additional 1,241 shares in the last quarter. Covington Capital Management lifted its stake in Stryker by 1.2% during the 2nd quarter. Covington Capital Management now owns 131,392 shares of the medical technology company’s stock worth $34,126,000 after acquiring an additional 1,592 shares in the last quarter. TrinityPoint Wealth LLC lifted its stake in Stryker by 2.6% during the 2nd quarter. TrinityPoint Wealth LLC now owns 2,131 shares of the medical technology company’s stock worth $553,000 after acquiring an additional 55 shares in the last quarter. Toroso Investments LLC lifted its stake in Stryker by 60.2% during the 2nd quarter. Toroso Investments LLC now owns 4,289 shares of the medical technology company’s stock worth $1,114,000 after acquiring an additional 1,611 shares in the last quarter. Finally, Inscription Capital LLC acquired a new position in Stryker during the 2nd quarter worth about $619,000. 72.58% of the stock is currently owned by institutional investors and hedge funds.

In other Stryker news, VP Robert S. Fletcher sold 1,120 shares of the firm’s stock in a transaction on Thursday, August 5th. The stock was sold at an average price of $261.10, for a total transaction of $292,432.00. Following the completion of the transaction, the vice president now owns 4,533 shares of the company’s stock, valued at $1,183,566.30. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Ronda E. Stryker sold 150,000 shares of Stryker stock in a transaction on Friday, August 6th. The shares were sold at an average price of $262.26, for a total value of $39,339,000.00. The disclosure for this sale can be found here. Company insiders own 6.70% of the company’s stock.

SYK has been the topic of several research reports. Argus increased their target price on Stryker from $280.00 to $320.00 and gave the stock a “buy” rating in a research note on Thursday, July 29th. Oppenheimer upped their price target on Stryker from $273.00 to $288.00 and gave the stock a “market perform” rating in a report on Wednesday, July 28th. Piper Sandler upped their price target on Stryker from $250.00 to $255.00 and gave the stock a “neutral” rating in a report on Wednesday, July 28th. They noted that the move was a valuation call. Needham & Company LLC restated a “hold” rating on shares of Stryker in a report on Wednesday, July 28th. Finally, Credit Suisse Group upped their price target on Stryker from $291.00 to $311.00 and gave the stock an “outperform” rating in a report on Wednesday, July 28th. Two research analysts have rated the stock with a sell rating, seven have assigned a hold rating and fourteen have assigned a buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Buy” and an average price target of $287.13.

Shares of NYSE SYK traded up $5.44 during trading hours on Thursday, reaching $261.94. The stock had a trading volume of 17,788 shares, compared to its average volume of 1,153,494. Stryker Co. has a fifty-two week low of $196.09 and a fifty-two week high of $281.16. The firm has a 50-day moving average of $268.65 and a 200-day moving average of $261.19. The company has a current ratio of 2.12, a quick ratio of 1.32 and a debt-to-equity ratio of 0.92. The firm has a market cap of $98.78 billion, a price-to-earnings ratio of 46.98, a PEG ratio of 3.08 and a beta of 0.98.

Stryker (NYSE:SYK) last posted its quarterly earnings data on Monday, July 26th. The medical technology company reported $2.25 earnings per share for the quarter, topping analysts’ consensus estimates of $2.12 by $0.13. The company had revenue of $4.29 billion during the quarter, compared to analysts’ expectations of $4.14 billion. Stryker had a return on equity of 26.08% and a net margin of 12.82%. The firm’s revenue for the quarter was up 55.4% on a year-over-year basis. During the same period last year, the firm earned $0.64 EPS. On average, equities analysts predict that Stryker Co. will post 9.35 EPS for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Friday, October 29th. Investors of record on Thursday, September 30th will be paid a $0.63 dividend. This represents a $2.52 annualized dividend and a yield of 0.96%. The ex-dividend date is Wednesday, September 29th. Stryker’s payout ratio is currently 33.92%.

Stryker Company Profile

Stryker Corp. engages in the provision of medical technology products and services. It operates through the following segments: Orthopaedics, MedSurg, and Neurotechnology & Spine. The Orthopaedics segment provides reconstructive and trauma implant systems. The MedSurg segment deals with surgical equipment and navigation systems, endoscopy, patient handling and reprocessed medical devices.

Recommended Story: Do You Need a Fiduciary?

Want to see what other hedge funds are holding SYK? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Stryker Co. (NYSE:SYK).

Institutional Ownership by Quarter for Stryker (NYSE:SYK)

Receive News & Ratings for Stryker Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Stryker and related companies with MarketBeat.com's FREE daily email newsletter.